On November 16th, [redacted] contacted CEFCU regarding her payments and requesting access to her funds on deposit. During the conversation, her collector [redacted] recommended she explore consolidation of the loans to reduce monthly payment obligations. Ms. [redacted] didn’t like that option...
and requested the Collection Manager. She left a message and on November 17th, the Collection Manager called her. The number provided was a cell phone. When the call went unanswered, a recording indicated the user wasn’t available and the Collection Manager was unable to leave a message. On November 21st, [redacted] requested payment via the Collection Attorney CEFCU utilizes as the loan was significantly delinquent (3 payments). [redacted] again talked to Ms. [redacted] on the 27th and again recommended an application to consolidate the loans. Ms [redacted] didn’t want to consolidate. She wanted all her payments deferred until she could get enrolled in school and then at that point she could prolong repayment as the Private Student Loan provides members the opportunity to stop repayment when they enroll at least part time in school. [redacted] explained to Ms. [redacted] complete deferment isn’t allowed until enrollment can be verified. Ms. [redacted] also asked [redacted] to remove holds from Ms [redacted]’s account as well as the co-maker. [redacted] refused as the Deposit Account Agreement CEFCU provides all account holders provides for a statutory lien. The statutory lien allows CEFCU to hold funds on deposit for any outstanding debt or transfer funds to the loan and make payments as requested. To date, [redacted], nor anyone at CEFCU has transferred funds to the loan in hopes Ms. [redacted] can make the payments on her own. Ms. [redacted] called on December 7th asking for the holds to be removed. [redacted] again directed Ms. [redacted] to pay the loans current or have the co-maker pay the loans current and the holds would be removed. Ms. [redacted] hung up on [redacted] with no further dialogue. CEFCU provided Ms. [redacted] with 5 student loans that now total $27,545.08 and all 5 loans are 3 payments delinquent. Ms. [redacted] was provided notice via mail in March 2017 her loans would be put in repayment with payment due in September 2017. She was provided 6 months notice payments would start and failed to proactively contact CEFCU to make arrangements, pay on the loans or see other options such as consolidation. CEFCU has provided Ms. [redacted] plenty of options and opportunities to bring her loans current. [redacted]Collections Manager [redacted]
Initial Business Response /* (1000, 5, 2016/06/22) */
The Deposit Account Agreement lets members know there needs to be sufficient funds in the member's Overdraft Transfer Protections account - Savings, IMMA, Easy Access Line of Credit, or Credit Card - to cover both the entire amount the account...
is overdrawn that day, the $8.00 transfer fee and the $5.00 minimum balance on the Savings account. In addition, with this service, if funds are not available as needed, the member agrees to pay an NSF Fee for each item returned unpaid subject to the daily limit.
Initial Consumer Rebuttal /* (3000, 7, 2016/06/24) */
(The consumer indicated he/she DID NOT accept the response from the business.)
You did not read a thing I wrote. I'm not the only one that knows what your doing and knows it's wrong and I won't be the last. AGAIN the day I was overdrawn I had the funds and more then enough
Final Business Response /* (4000, 9, 2016/06/30) */
On June 15, 2016, multiple transactions debited the account, and at the end of the 8 p.m. CT business day, the account was overdrawn by a significant amount. Two deposits were made to the account, but were placed in the account after 8 p.m. CT. Deposits made after 8 p.m. CT Monday through Friday and 5 p.m. on Saturday are credited the next business day. Members are notified of the cut-off times on deposits in the Deposit Account Agreement.
On November 16th, [redacted] contacted CEFCU regarding her payments and requesting access to her funds on deposit. During the conversation, her collector [redacted] recommended she explore consolidation of the loans to reduce monthly payment obligations. Ms. [redacted] didn’t like that option...
and requested the Collection Manager. She left a message and on November 17th, the Collection Manager called her. The number provided was a cell phone. When the call went unanswered, a recording indicated the user wasn’t available and the Collection Manager was unable to leave a message. On November 21st, [redacted] requested payment via the Collection Attorney CEFCU utilizes as the loan was significantly delinquent (3 payments). [redacted] again talked to Ms. [redacted] on the 27th and again recommended an application to consolidate the loans. Ms [redacted] didn’t want to consolidate. She wanted all her payments deferred until she could get enrolled in school and then at that point she could prolong repayment as the Private Student Loan provides members the opportunity to stop repayment when they enroll at least part time in school. [redacted] explained to Ms. [redacted] complete deferment isn’t allowed until enrollment can be verified. Ms. [redacted] also asked [redacted] to remove holds from Ms [redacted]’s account as well as the co-maker. [redacted] refused as the Deposit Account Agreement CEFCU provides all account holders provides for a statutory lien. The statutory lien allows CEFCU to hold funds on deposit for any outstanding debt or transfer funds to the loan and make payments as requested. To date, [redacted], nor anyone at CEFCU has transferred funds to the loan in hopes Ms. [redacted] can make the payments on her own. Ms. [redacted] called on December 7th asking for the holds to be removed. [redacted] again directed Ms. [redacted] to pay the loans current or have the co-maker pay the loans current and the holds would be removed. Ms. [redacted] hung up on [redacted] with no further dialogue. CEFCU provided Ms. [redacted] with 5 student loans that now total $27,545.08 and all 5 loans are 3 payments delinquent. Ms. [redacted] was provided notice via mail in March 2017 her loans would be put in repayment with payment due in September 2017. She was provided 6 months notice payments would start and failed to proactively contact CEFCU to make arrangements, pay on the loans or see other options such as consolidation. CEFCU has provided Ms. [redacted] plenty of options and opportunities to bring her loans current. [redacted]Collections Manager [redacted]
Initial Business Response /* (1000, 5, 2016/06/22) */
The Deposit Account Agreement lets members know there needs to be sufficient funds in the member's Overdraft Transfer Protections account - Savings, IMMA, Easy Access Line of Credit, or Credit Card - to cover both the entire amount the account...
is overdrawn that day, the $8.00 transfer fee and the $5.00 minimum balance on the Savings account. In addition, with this service, if funds are not available as needed, the member agrees to pay an NSF Fee for each item returned unpaid subject to the daily limit.
Initial Consumer Rebuttal /* (3000, 7, 2016/06/24) */
(The consumer indicated he/she DID NOT accept the response from the business.)
You did not read a thing I wrote. I'm not the only one that knows what your doing and knows it's wrong and I won't be the last. AGAIN the day I was overdrawn I had the funds and more then enough
Final Business Response /* (4000, 9, 2016/06/30) */
On June 15, 2016, multiple transactions debited the account, and at the end of the 8 p.m. CT business day, the account was overdrawn by a significant amount. Two deposits were made to the account, but were placed in the account after 8 p.m. CT. Deposits made after 8 p.m. CT Monday through Friday and 5 p.m. on Saturday are credited the next business day. Members are notified of the cut-off times on deposits in the Deposit Account Agreement.